STX unit takes over Dutch wind turbine maker

SEOUL, July 29 (Yonhap) -- STX Heavy Industries Co., a unit of South Korea's STX
Group, said Wednesday that it has signed a deal to buy a Dutch wind-power turbine
maker for around 24 billion won (US$19.4 million) as part of group-wide efforts
to diversify revenue sources.

The company said it will spend more than 100 billion won in expanding facilities
for research and development in the future.
STX Heavy is expecting to secure key technologies for installation and
maintenance of wind power plants with the acquisition of the Dutch company, which
was established in 1979.
STX Group, whose key affiliates include STX Offshore & Shipbuilding Co. and STX
Pan Ocean Co., has been seeking to boost its wind power-related business.
The group is targeting sales of 1.5 trillion won in 2015 from its wind
power-related business.
sam@yna.co.kr
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